Slide 1: Earnings Presentation 3QFY25
EARNINGS PRESENTATION 3QFY25
Slide 2: Highlights
& vedanta transforming for good Highlights 3QFY25
Slide 3: Q3 Highlights
EBITDA PAT Revenue Q3 Highlights Highest ever 3rd Quarter EBITDA +30% YoY +70% YoY +10% YoY led by strong performance across key businesses and ₹ 11,284 crore ₹ 4,876 crore ₹ 38,526 crore various strategic initiatives Record 3Q EBITDA, highest in last 11 quarters1 EBITDA Margin Production FCF (Pre-C
Slide 4: 9M Highlights
EBITDA PAT (Pre – Exceptional) Revenue 9M Highlights +40% YoY 1 +151% YoY 1 +9% YoY 1 Performance driven by structural cost reduction ₹ 31,924 crore ₹ 14,438 crore; ₹ 1,10,936 crore initiatives and strategic All time high 9M EBITDA PAT at ₹ 15,574 crore actions focused on shareholder value unlocking
Slide 5: BALCO doubles its RP Capacity
Project Update BALCO doubles its RP Capacity Aluminium Business On track to Leadership in Rolled produce 90% of Value Added Products Products Current Value Added Product Capacity With this expansion increased to 68% Vedanta Aluminium VAP Capacity Business became the 2nd 68% largest producer of Rolle
Slide 6: Business Performance
Business Performance 3QFY25 Sensitivity: Internal (C3)
Slide 7: Aluminium Business
Aluminium Business Focused on profitable growth driven by end-to-end integration Aluminium Production (kt) Key Highlights: ▪ Highest ever quarterly & 9month metal Production at 613kt +2% y-o-y 1,772 1,819 (+2% YoY) and 1,819kt (+3% YoY) respectively ▪ All-time best quarterly VAP & Domestic sales at
Slide 8: Zinc India
Zinc India Highest-ever 9M mined and refined metal production ▪ Highest-ever 9M mined metal and refined metal production ▪ Clocked 10-quarter best EBITDA at 784 kt and 783 kt, respectively ▪ One of the largest metal companies with market cap of ₹ ▪ 9M silver production of 511 tonnes, down due to low
Slide 9: Zinc International
Zinc International Strong quarterly performance led by improved mining Total MIC Production Key highlights: 12% increase y-o-y 175 ▪ Quarterly production up 12% YoY supported by 21% increase at Gamsberg. 6% increase q-o-q 127 ▪ Lowest ever quarterly CoP for Gamsberg at $1,002/t. 41 44 46 ▪ Highest e
Slide 10: Oil & Gas
Oil & Gas Investing strategically to sustain long-term value Gross Production (kboepd) Key highlights: ▪ 3QFY25 production at 99.4 kboepd, natural decline in MBA fields & Offshore blocks, partially offset by infill wells brought online in 123.4 130.8 Mangala, Aishwarya and RDG fields. 104.9 99.4 105
Slide 11: Iron and Steel
Iron and Steel Iron Ore Business VAB ESL FACOR Saleable Production Production (kt) Saleable Ferro Chrome (mnt) 4.1 production (kt) 1,043 production (kt) 3.8 71 981 IOG (mnt) 0.5 633 611 IOK (mnt) 53 1.5 1.4 1.3 0.1 0.3 217 341 329 26 1.4 203 189 296 1.3 22 1.2 18 3.8 3.6 3Q 2Q 3Q 9M 9M 3Q 2Q 3Q 9M 9
Slide 12: Environment, Social & Governance
Environment, Social & Governance VZI Sensitivity: Internal (C3)
Slide 13: ESG: Our commitment to excellence – our path to leadership
ESG Our commitment to excellence – our path to leadership Transforming Communities Transforming Planet Transforming Workplace 2.09 million 925 MW RE RTC 22% Families skilled Women in workforce, 33% Under Construction in enabling functions 0.7x 45 transgender 38 million Water Positivity Women & child
Slide 14: Leadership in the S&P Global CSA 2024
Our group companies including HZL and Aluminium continued their leadership in the S&P Global CSA 2024 Integrating ESG through quality initiatives S&P Global Vedanta Limited Hindustan Zinc Vedanta Aluminium CSA 3% Diversified Metals & Mining Diversified Metals & Mining Aluminium 3% Category peers pee
Slide 15: CSR - Empowering communities with focused actions
CSR - Empowering communities with focused actions Highlights ~5 million ₹ 254 crore ~ 6918 Beneficiaries YTD Q3FY35 CSR Spent YTD Q3FY325 Nand Ghars Healthcare Drinking water > 2000 crore spent on CSR > 25 Initiatives and sanitation activities since 2020 > 16 Initiatives ₹ crore Community Children’s
Slide 16: Finance Update
Finance Update 3QFY25 VZI Sensitivity: Internal (C3)
Slide 17: 3QFY25 financial snapshot
3QFY25 financial snapshot REVENUE EBITDA EBITDA Margin1 Profit after tax ₹ 38,526 crore ₹ 11,284 crore 34% ₹ 4,876 crore 10% y-o-y 30% y-o-y 517 bps y-o-y 70% y-o-y Cash & Cash ROCE2 FCF (Pre-capex) Net Debt/EBITDA Equivalent c.24% ₹ 6,766 crore 1.40x ₹ 21,138 crore ~170 bps y-o-y 57% y-
Slide 18: EBITDA Bridge (3QFY25 vs. 3QFY24)
EBITDA BRIDGE (3QFY25 vs. 3QFY24) (In ₹ crore) +30% vs 3QFY24 EBITDA Alum 2,168 Zinc 1,313 3,402 273 11,614 382 11,284 738 505 207 8,677 Market & Regulatory 2,937 Q 24 In ut ore ebased olu e ost Others Q 2 rent o odity ITD ar eting re iu Inflation 18 LME/Brent/Premium includes SAED impact of Oil & G
Slide 19: EBITDA Bridge (3QFY25 vs. 2QFY25)
EBITDA BRIDGE (3QFY25 vs. 2QFY25) (In ₹ crore) Highest ever EBITDA in last 11 quarters* with best-ever 3Q quarter 1,785 75 11,659 11,284 565 56 129 190 10,364 Alum 1,027 Zinc 546 Market & Regulatory 1,295 2Q 2 In ut ore ebased olu e ost Others Q 2 rent o odity ITD ar eting re iu Inflation 19 LME/Bre
Slide 20: Net Debt Walk 3QFY25
Net Debt Walk 3QFY25 (In ₹ crore) 56,927 3,320 419 57,358 5,069 7,721 656 FCF post Capex 3,308 et Debt ash low or ing a e Di idend Others et Debt e 24 ro ca ital Dec 24 O erations 20 Vedanta Limited 3QFY25 Investor Presentation VZI Sensitivity: Internal (C3)
Slide 21: Balance sheet and debt breakdown
Balance sheet and debt breakdown Net debt / EBITDA Debt breakdown Gross Debt In $bn In ₹ 000’ crores 1.88 1.64 1.70 1.55 1.54 1.49 Term debt 8.49 72.68 1.40 Working capital 0.11 0.92 Short term borrowing 0.57 4.89 2QFY24 2QFY24 3QFY24 4QFY24 1QFY25 2QFY25 3QFY25 Total consolidated debt 9.17 78.49 Ca
Slide 22: Appendix
Appendix VZI Sensitivity: Internal (C3)
Slide 23: Summary of Income statement
Summary of Income statement 3Q 2Q 3Q In ₹ Crore FY25 FY25 FY24 ▪ Depreciation & Amortization o 3QFY25 remained flat QoQ Revenue from operations 38,526 37,171 34,968 o 3QFY25 decreased by 4% YoY mainly at Copper Other operating income 589 463 573 and Alum Business EBITDA 11,284 10,364 8,677 ▪ Finance
Slide 24: Entity-wise Cash and Debt
Entity-wise Cash and Debt (In ₹ crore) Dec 31, 2024 Sep 30, 2024 Dec 31, 2023 Company Cash & Cash & Cash & Debt Net Debt Debt Net Debt Debt Net Debt Cash Eq Cash Eq Cash Eq Vedanta Limited Standalone 42,153 8,349 33,805 40,661 9,324 31,337 44,134 1,052 43,082 Cairn India Holdings Limited1 2,008 2,17
Slide 25: Funding sources and term debt maturities
Funding sources and term debt maturities Diversified Funding Sources for Long Term Debt of $8.5 Bn Long Term Debt Maturities : ₹ 72.68K crore ($8.5 bn) (as of Dec 31, 2024) (as of Dec 31, 2024) 0.1% Standalone Subsidiaries 21% 22% 27.1 Bonds INR 21.3 ’ crore Term Loan INR Term Loan Fx 18.3 11.8 Bond
Slide 26: Segment Summary – Aluminium
Segment Summary – Aluminium Production (In ’000 tonnes, or as Quarter 9 months stated) 3QFY25 3QFY24 % YoY 2QFY25 9MFY25 9MFY24 % YoY Alumina – Lanjigarh 505 470 7% 499 1,543 1,329 16% Total Aluminum Production 613 599 2% 609 1,819 1,772 3% Jharsuguda 464 452 3% 460 1,374 1,332 3% Balco 150 147 2% 1
Slide 27: Aluminium profitability
Aluminium profitability $/t Hot metal cost 3QFY25 262 2,852 15 2,575 2,575 982 541 355 107 867 1,878 LME Strategic Premium Realisation Alumina Power Other hot Conversion & EBITDA hedging metal other 1.5x growth YoY 1,735 3QFY24 2,190 0 179 2,369 (707) (597) (431) (56) 578 27 Vedanta Limited 3QFY25 I
Slide 28: Segment Summary – Zinc India
Segment Summary – Zinc India Quarter 9 months Production (In ’000 tonnes, or as stated) 3QFY25 3QFY24 % YoY 2QFY25 9MFY25 9MFY24 % YoY Mined metal content 265 271 (2%) 256 784 780 1% Saleable metal 259 259 0% 262 783 760 3% Refined Zinc1 204 203 0% 198 613 597 3% Refined Lead2 55 56 (2%) 63 170 163
Slide 29: Segment summary – Zinc International
Segment summary – Zinc International Quarter 9 months Production (In ’000 tonnes, or as stated) 3QFY25 3QFY24 % YoY 2QFY25 9MFY25 9MFY24 % YoY Mined metal content- BMM 11 12 (10%) 12 34 49 (31%) Mined metal content- Gamsberg 35 29 21% 32 93 126 (26%) Total 46 41 12% 44 127 175 (27%) Financials (In ₹
Slide 30: Segment Summary – Oil & Gas
Segment Summary – Oil & Gas Quarter 9 months Production (In kboepd, or as stated) 3QFY25 3QFY24 % YoY 2QFY25 9MFY25 9MFY24 % YoY Average Daily Gross Operated Production 99.4 123.4 (19%) 104.9 105.5 130.8 (19%) Rajasthan 81.3 103.9 (22%) 85.1 86.3 109.3 (21%) Ravva 9.6 10.2 (6%) 11.0 10.6 10.9 (3%) C
Slide 31: Segment Summary – Oil & Gas
Segment Summary – Oil & Gas Quarter 9 months Production (In kboepd, or as stated) 3QFY25 3QFY24 % YoY 2QFY25 9MFY25 9MFY24 % YoY Average Daily Production Gross operated 99.4 123.4 (19%) 104.9 105.5 130.8 (19%) Oil 78.5 100.6 (22%) 82.5 83.5 106.9 (22%) Gas (Mmscfd) 126 137 (8%) 134 132 143 (8%) Non-
Slide 32: Segment Summary – Iron Ore and Steel
Segment Summary – Iron Ore and Steel Iron Ore Production (In million dry metric tonnes, or Quarter 9 months as stated) 3QFY25 3QFY24 % YoY 2QFY25 9MFY25 9MFY24 % YoY Production of Saleable Ore 1.5 1.4 10% 1.3 4.1 3.8 8% Goa 0.3 0.0 - 0.1 0.5 - - Karnataka 1.2 1.4 (14%) 1.3 3.6 3.8 (6%) Production ’0
Slide 33: Segment Summary – Facor and Copper
Segment Summary – Facor and Copper Copper Quarter 9 months Production (In ’000 tonnes, or as stated) 3QFY25 3QFY24 % YoY 2QFY25 9MFY25 9MFY24 % YoY Copper - Cathodes 45 43 3% 41 105 110 (4%) Financials (In ₹ crore, or as stated) Revenue 5,803 5,376 8% 6376 16,913 14,715 15% EBITDA 4 7 (43%) (10) (63
Slide 34: Sales Summary – Zinc and Aluminium
Sales Summary – Zinc and Aluminium Quarter 9 months Sales volume 3QFY25 3QFY24 2QFY25 9MFY25 9MFY24 Zinc-India Sales Refined Zinc (kt) 201 203 198 609 596 Refined Lead (kt) 55 56 63 170 163 Total Zinc-Lead (kt) 256 259 261 779 759 Silver (tonnes) 160 197 184 511 556 Zinc-International Sales Zinc Con
Slide 35: Sales summary – Iron & Steel, FACOR and Power
Sales summary – Iron & Steel, FACOR and Power Quarter 9 months Sales volume Quarter 9 months Sales volume Power Sales (mu) 3QFY25 3QFY24 2QFY25 9MFY25 9MFY24 3QFY25 3QFY24 2QFY25 9MFY25 9MFY24 Iron ore sales Jharsuguda 311 716 709 1847 1840 Goa (mn dmt) 0.2 0.1 0.0 0.2 0.3 TSPL 2,021 2,466 2,861 7,8
Slide 36: Group structure
Group structure As of 31-Dec-24 Listed entities Vedanta Resources Ltd Unlisted entities Divisions of Vedanta Limited ⚫ Sesa Iron Ore 56.38% ⚫ Sterlite Copper ⚫ Power (600 MW Jharsuguda) Vedanta Ltd ⚫ Aluminium (Odisha aluminium and power assets) ⚫ Cairn Oil & Gas* Subsidiaries of Vedanta Ltd ⚫ Athen
Slide 37: Currency and commodity sensitivities
Currency and commodity sensitivities Foreign Currency - Impact of ₹ 1 depreciation in FX Rate Currency Increase in EBITDA INR/USD ~ ₹ 900 crore / year Commodity prices – Impact of a 10% increase in Commodity Prices 9MFY25 Impact on Commodity Average price EBITDA ($mn) Oil ($/bbl) 80 37 Zinc ($/t) 2,
Slide 38: Awards and Accolades
Awards and Accolades Recognitions towards our commitment to excellence HZL: Vedanta Vedanta Lanjigarh BALCO won 3 Sustainability Jharsuguda- CII BALCO Clinches Triumphs at the Awards at the Excellence Award National Award Businessworld 49th International 9th Annual in Manufacturing for Energy SCM Le
Slide 39: Earnings Call Details
Earnings Call Details Event Telephone Number +91 22 6280 1114 Universal Dial-In +91 22 7115 8015 India National Toll Free 1 800 120 1221 Earnings conference call on January Canada 01180014243444 31, 2025, from 5:00 PM to 6:00 PM Hong Kong 800964448 (IST) Japan 00531161110 Netherlands 08000229808 Int
Slide 40: Cautionary statement and disclaimer
Cautionary statement and disclaimer The views expressed here may contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness, reasonableness or reliability of this information. Any forwa